FAQ: How to Enter Income as a Retiree?

When filling out the Discovery phase as a retiree there are some income sources you should enter, and other's that will be calculated later in the Planning Phase > Projection Section.

Canada Pension Plan (CPP) and Old Age Security (OAS):

Where you enter your CPP/OAS benefits depends on whether you have already started these benefits.

• If you have started your CPP/OAS benefits you can enter them in the Discovery Phase > Income Section. You can see details of how to do that HERE.
• If you have not started your CPP/OAS benefits, navigate to the Discovery Phase > Tax and Benefits Section. You'll be able to enter in your Canada Pension Plan Statement of Contributions and number of residency years. With this information the platform will calculate your expected benefit, you can see this in the Foundation Phase and they will be included in your planning projections.

Investment Income (RRIF, LIF, Non-Registered Withdrawals)

You do not have to enter any investment income withdrawals in Discovery. This will be automatically calculated in the Planning phase.

Defined Benefit Pension Plan

Do not enter this income in the Discovery > Income section. Instead add your pension in Discovery > Tax & Benefits section.

Your Cash Flow diagram will show a gap but this gap will be closed in Projections when the platform calculates your pension and investment withdrawals.